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Business / World Business

Oil rises over 2% as gold steady ahead of US economic data

Published: 29 Sep 2026 - 10:10 am | Last Updated: 29 Sep 2026 - 10:13 am
Peninsula

QNA

Singapore: Oil prices rose more than 2% in Tuesday's trading, supported by signs of a recovery in crude exports from the region.

Brent crude futures increased by more than 2%, reaching $107.44 per barrel, while the most actively traded December futures also rose by over 2% to reach $99.87 per barrel.

US crude futures also rose more than 2% to reach $94.50 per barrel.

Meanwhile, gold steadied on Tuesday but hovered at a more than seven-week low on concerns that the Federal Reserve may keep interest rates higher for longer, while investors awaited a slew of US economic data.

Spot gold was little changed at $4,124.57 per ounce, after hitting its lowest level since August 5 in the previous session.

US gold futures fell 0.3% to $4,156.70.

Among other metals, spot silver fell 0.6% to $60.62, platinum slipped 1% at $1,699.86 and palladium lost 0.5% to $1,209.08.